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News Corp. has just announced that it has acquired e-reader Skiff from Hearst and made an investment in Journalism Online, news monetization venture founded by Leo Hindery, Steve Brill, and Gordon Crovitz. The financial terms of both agreements were not disclosed. Additionally, Jon Housman has been named President of News Corporation’s digital journalism initiatives.

As we’ve written in the past, Skiff is sort of like a Roku box for magazines. The e-reading platform is focused on the representation of magazines in their native format and aims to help move paid subscribers to a different delivery system as quickly and easily as possible.

Journalism Online aims to help news publishers monetize content. Publishers can choose adjust multiple options for paid access. This includes the “metered model” or having to pay for full access. Of course, we know that News Corp chief Rupert Murdoch is a fan of paid content so, the investment isn’t surprising. But’s unclear if an how Murdoch and the company will be integrating Journalism Online’s technologies into News Corp. properties.

In the release, Jon Miller, Chief Digital Officer for News Corp said “Both Skiff and Journalism Online serve as key building blocks in our strategy to transform the publishing industry and ensure consumers will have continued access to the highest quality journalism.”